What's Happening?
Wilton Square, a new U.K.-based publisher, has been launched by Will Atkinson, former head of Atlantic Books, with plans to acquire titles from the defunct publishers Unbound and Boundless. Atkinson, who will serve as joint CEO alongside Dan Hiscocks of Eye Books, aims to provide continuity for authors affected by the closure of Unbound. The company is currently sending contracts to approximately 20 authors, with ongoing discussions with another 30, and plans to contact an additional 20 to 30 authors. Wilton Square will operate under a revenue-sharing model, offering authors 35 pence for every pound of revenue, appealing to former Unbound authors familiar with joint ventures. The acquisition process is expedited by Macmillan Distribution, ensuring continuity of sales in the U.K., while U.S. distribution requires new ISBNs or stickered books.
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Why It's Important?
The launch of Wilton Square represents a significant rescue operation for authors whose works were left in limbo following the collapse of Unbound and Boundless. By acquiring these titles, Wilton Square provides immediate credibility within the publishing industry, potentially saving years of market development. The revenue-sharing model offers a more collaborative approach, encouraging authors to actively participate in the success of their books. This initiative not only preserves the works of affected authors but also strengthens the publishing landscape by introducing a new player committed to long-term success. The move could influence other publishers to adopt similar models, fostering innovation and collaboration in the industry.
What's Next?
Wilton Square plans to begin actively trading this month, relaunching editions of existing Unbound titles. The company is also considering several new projects to originate independently, aiming to develop its own frontlist starting in 2026. As discussions continue with Consortium, Unbound’s distributor in the U.S., Wilton Square seeks to expand its international reach, with confirmed distribution agreements in South Africa and Australia. The focus remains on supporting first-class authors handpicked by Unbound editors, while managing cash flow to ensure sustainable growth. The success of this venture could lead to further acquisitions and partnerships, solidifying Wilton Square's position in the publishing industry.
Beyond the Headlines
The establishment of Wilton Square highlights the challenges and opportunities within the publishing industry, particularly in the wake of company closures. The revenue-sharing model may disrupt traditional royalty systems, offering a more equitable distribution of profits. This approach could lead to a shift in how authors and publishers collaborate, emphasizing shared responsibility and mutual benefit. Additionally, the acquisition of orphaned titles underscores the importance of preserving literary works and supporting creative talent, even amidst industry upheavals. Wilton Square's commitment to long-term success reflects broader trends towards sustainability and resilience in business practices.
